The Dolby Theatre, home of the Oscars, has a new owner
And the home of the Oscars goes to ...
... Jebs Hollywood Entertainment, an investment group that just purchased the famed Dolby Theatre for roughly $50 million, according to a source with knowledge of the transaction who was not authorized to comment.
The group, which acquired the Academy Awards venue on Tuesday, includes movie producer Elie Samaha and former Sony Pictures Entertainment President Jeff Sagansky. Jebs Hollywood Entertainment also operates the legendary TCL Chinese Theatre.
“Escape to Margaritaville†is running now. “The SpongeBob Musical,†“Mean Girls,â€â€œMy Fair Lady†and “The Band’s Visit†are coming.
The Dolby Theatre is part of the Ovation Hollywood shopping and dining complex, formerly known as Hollywood & Highland. The deal package also included a pair of surface parking lots spanning 1.45 acres, per Avison Young, the real estate company representing the buyer.
Since 2001, the Oscars ceremony has been staged at the 3,400-seat Dolby Theatre. The new owners intend to continue that tradition while showcasing other live acts as well, said Chris Bonbright, principal and managing director of Avison Young, in a statement.
Times staff writer Roger Vincent contributed to this report.
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